v3.25.2
Derivative Instruments and Hedging Activities (Tables)
 9 Months Ended
Aug. 01, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Fair Value of Derivatives and Consolidated Balance Sheet Location
The following table presents the fair value and location of the company’s derivative instruments on the Condensed Consolidated Balance Sheets:
(Dollars in millions)August 1, 2025August 2, 2024October 31, 2024
Derivative assets:   
Derivatives designated as cash flow hedging instruments:   
Prepaid expenses and other current assets   
Forward currency contracts$3.0 $1.3 $2.0 
Derivatives not designated as cash flow hedging instruments:
Prepaid expenses and other current assets
Forward currency contracts0.5 0.8 0.2 
Total derivative assets$3.5 $2.1 $2.2 
Derivative liabilities:
Derivatives designated as cash flow hedging instruments:
Accrued liabilities
Forward currency contracts$5.6 $1.2 $4.7 
Derivatives not designated as cash flow hedging instruments:
Accrued liabilities
Forward currency contracts1.5 0.1 0.8 
Total derivative liabilities$7.1 $1.3 $5.5 
Schedule of Effects of Master Netting Arrangements on Fair Value of Derivative Contracts Recorded in Consolidated Balance Sheets
The following table presents the effects of the master netting arrangements on the fair value of the company’s derivative instruments that are recorded on the Condensed Consolidated Balance Sheets:
(Dollars in millions)August 1, 2025August 2, 2024October 31, 2024
Derivative assets:
Forward currency contracts:
Gross amount of derivative assets$3.6 $3.0 $2.9 
Derivative liabilities offsetting derivative assets0.1 0.9 0.7 
Net amount of derivative assets$3.5 $2.1 $2.2 
Derivative liabilities:
Forward currency contracts:
Gross amount of derivative liabilities$8.0 $1.5 $5.5 
Derivative assets offsetting derivative liabilities0.9 0.2 — 
Net amount of derivative liabilities$7.1 $1.3 $5.5 
Schedule of Impact of Derivative Instruments on Consolidated Statements of Earnings for Derivatives Designated as Cash Flow Hedging Instruments
The following table presents the impact and location of the amounts reclassified from AOCL into net earnings on the Condensed Consolidated Statements of Earnings and the impact of derivative instruments on the Condensed Consolidated Statements of Comprehensive Income for the company's derivatives designated as cash flow hedging instruments for the three and nine months ended August 1, 2025 and August 2, 2024:
Three Months Ended
(Loss) Gain Reclassified from AOCL into EarningsGain (Loss) Recognized in OCI on Derivatives
(Dollars in millions)August 1, 2025August 2, 2024August 1, 2025August 2, 2024
Derivatives designated as cash flow hedging instruments:
Forward currency contracts:
Net sales$(1.3)$1.0 $0.4 $(2.3)
Cost of sales(0.9)0.6 3.1 (6.4)
Total derivatives designated as cash flow hedging instruments$(2.2)$1.6 $3.5 $(8.7)
Nine Months Ended
(Loss) Gain Reclassified from AOCL into EarningsGain (Loss) Recognized in OCI on Derivatives
(Dollars in millions)August 1, 2025August 2, 2024August 1, 2025August 2, 2024
Derivatives designated as cash flow hedging instruments:
Forward currency contracts:
Net sales$0.2 $3.0 $(4.8)$(6.5)
Cost of sales(4.1)3.3 7.4 (6.3)
Total derivatives designated as cash flow hedging instruments$(3.9)$6.3 $2.6 $(12.8)
The following tables present the impact and location of derivative instruments on the Condensed Consolidated Statements of Earnings for the company’s derivatives designated as cash flow hedging instruments and the related components excluded from effectiveness testing:
(Loss) Gain Recognized in Earnings on Cash Flow Hedging Instruments
(Dollars in millions)August 1, 2025August 2, 2024
Three Months EndedNet SalesCost of SalesNet SalesCost of Sales
Condensed Consolidated Statements of Earnings (Loss) income (expense) amounts in which the effects of cash flow hedging instruments are recorded$1,131.3 $(749.5)$1,156.9 $(754.1)
(Loss) gain on derivatives designated as cash flow hedging instruments:
Forward currency contracts:
Amount of (loss) gain reclassified from AOCL into earnings(1.3)(0.9)1.0 0.6 
Gain on components excluded from effectiveness testing recognized in earnings based on changes in fair value$0.1 $1.0 $1.3 $1.1 
Gain (Loss) Recognized in Earnings on Cash Flow Hedging Instruments
(Dollars in millions)August 1, 2025August 2, 2024
Nine Months EndedNet SalesCost of SalesNet SalesCost of Sales
Condensed Consolidated Statements of Earnings income (expense) amounts in which the effects of cash flow hedging instruments are recorded$3,444.2 $(2,290.1)$3,507.8 $(2,307.5)
Gain (loss) on derivatives designated as cash flow hedging instruments:
Forward currency contracts:
Amount of gain (loss) reclassified from AOCL into earnings0.2 (4.1)3.0 3.3 
Gain on components excluded from effectiveness testing recognized in earnings based on changes in fair value$0.8 $2.6 $2.1 $2.6 
Schedule of Impact of Derivative Instruments on Consolidated Statements of Earnings (Loss) for Derivatives Not Designated as Hedging Instruments
The following table presents the impact and location of derivative instruments on the Condensed Consolidated Statements of Earnings for the company’s derivatives not designated as cash flow hedging instruments:
 Three Months EndedNine Months Ended
(Dollars in millions)August 1, 2025August 2, 2024August 1, 2025August 2, 2024
Loss on derivatives not designated as cash flow hedging instruments
Forward currency contracts:
Other loss, net$(0.6)$(4.6)$(4.3)$(5.8)
Total loss on derivatives not designated as cash flow hedging instruments$(0.6)$(4.6)$(4.3)$(5.8)